Marketing Research: Process and Systems for Decision Making

In today’s highly competitive global economy, marketers need to exploit opportunities and avoid ______ if they are to survive and be profitable

Marketing managers require current, reliable, useful information to make effective ______

Not only is sound marketing research needed but also a system that gets current, valid information to the marketing decision maker in a ______ manner

This chapter is concerned with the marketing research process and information systems for ______ making

The chapter is intended to provide a detailed introduction to many of the important topics in the area, but it does not provide a complete explanation of the plethora of marketing research ______

The Role of Marketing research is the process by which information about the environment is generated, analyzed, and interpreted for use in marketing ______ decision making

Marketing research is an aid to decision making and not a substitute for it. In other words, marketing research does not make decisions, but it can substantially increase the chances that good decisions are made. Unfortunately, too many marketing managers view research reports as the final answer to their problems; whatever the research indicates is taken as the appropriate course of action. Instead, marketing managers should recognize that (1) even the most carefully executed research can be fraught with ______; (2) marketing research does not forecast with certainty what will happen in the future; and (3) they should make decisions in light of their own knowledge and experience as no marketing research study includes all of the factors that could influence the success of a strategy.

Although marketing research does not make decisions, it can reduce the risks associated with managing marketing strategies. For example, it can reduce the risk of introducing new products by evaluating consumer acceptance of them prior to full-scale introduction. Marketing research is also vital for investigating the effects of various marketing strategies after they have been implemented. For example, marketing research can examine the effects of a change in any element of the marketing mix on customer perceptions and ______.

At one time, marketing researchers were primarily engaged in the technical aspects of research but were not heavily involved in the strategic use of research findings. Today, however, many marketing researchers work hand-in-hand with marketing managers throughout the research process and have responsibility for making strategic recommendations based on the ______.

Marketing research can be viewed as systematic processes for obtaining information to aid in decision making. There are many types of marketing research, and the framework illustrated in Figure 2–1 represents a general approach to the ______.

Each element of this process is discussed next. Figure 2–1 The Five Ps of the Research ______

Purpose of the ______

Plan of the ______

Performance of the ______

Processing of research ______

Preparation of research ______

Marketing managers require current, reliable, useful information to make effective ______

Marketing research is also vital for investigating the effects of various marketing strategies after they have been implemented. For example, marketing research can examine the effects of a change in any element of the marketing mix on customer perceptions and ______

In today’s highly competitive global economy, marketers need to exploit opportunities and avoid ______ if they are to survive and be profitable

Not only is sound marketing research needed but also a system that gets current, valid information to the marketing decision maker in a ______ manner

Each element of this process is discussed next. Figure 2–1 The Five Ps of the Research ______

Although marketing research does not make decisions, it can reduce the risks associated with managing marketing strategies. For example, it can reduce the risk of introducing new products by evaluating consumer acceptance of them prior to full-scale introduction. Marketing research is an aid to decision making and not a substitute for it. In other words, marketing research does not make decisions, but it can substantially increase the chances that good decisions are made. Unfortunately, too many marketing managers view research reports as the final answer to their problems; whatever the research indicates is taken as the appropriate course of action. Instead, marketing managers should recognize that (1) even the most carefully executed research can be fraught with ______; (2) marketing research does not forecast with certainty what will happen in the future; and (3) they should make decisions in light of their own knowledge and experience as no marketing research study includes all of the factors that could influence the success of a strategy.

At one time, marketing researchers were primarily engaged in the technical aspects of research but were not heavily involved in the strategic use of research findings. Today, however, many marketing researchers work hand-in-hand with marketing managers throughout the research process and have responsibility for making strategic recommendations based on the ______.

Preparation of research ______

Marketing managers require current, reliable, useful information to make effective ______

Not only is sound marketing research needed but also a system that gets current, valid information to the marketing decision maker in a ______ manner

Plan of the ______

The Role of Marketing research is the process by which information about the environment is generated, analyzed, and interpreted for use in marketing ______ decision making

Marketing research can be viewed as systematic processes for obtaining information to aid in decision making. There are many types of marketing research, and the framework illustrated in Figure 2–1 represents a general approach to the ______.

Although marketing research does not make decisions, it can reduce the risks associated with managing marketing strategies. For example, it can reduce the risk of introducing new products by evaluating consumer acceptance of them prior to full-scale introduction. Marketing research is also vital for investigating the effects of various marketing strategies after they have been implemented. For example, marketing research can examine the effects of a change in any element of the marketing mix on customer perceptions and ______.

This chapter is concerned with the marketing research process and information systems for ______ making

In today’s highly competitive global economy, marketers need to exploit opportunities and avoid ______ if they are to survive and be profitable

Marketing Research

Importance of Research

Limitations

Role in Evaluation

Strategy Evaluation

Evolving Role

Systematic Process

Five Ps

Purpose of Research

Plan of Research

Performance of Research

Processing Research Data

Preparation of Research Reports

Key Takeaways for Managers

Risk Mitigation

Consumer Acceptance

Marketing Mix

Customer Perceptions

Decision-Making

Managerial Insights

Data-Driven Decisions

Information

Bias

Influencing Factors